The first weekend of July has started with a sustained surge in the cryptocurrency market.
BTC/USD
Bitcoin (BTC) rate is almost unchanged since yesterday.
Bitcoin (BTC) has reversed the $19,000 mark on the daily chart; However, bearish pressure still remains. Thus, the buy trade volume is low, which means that the buyers are not powerful enough for a trend change.
In this case, if the rate fails to return to the $20,000 mark in the coming days, a further decline below $18,000 is likely.
At press time, bitcoin is trading at $19,229.
SOL/USD
Solana (SOL) is the biggest gainer today with a rise of 2.88% over the last 24 hours.
Despite the rise, Solana (SOL) is trading sideways in the middle of the channel with support at $26.05 and resistance at $37.37. The rate is well above the $30 mark, which means that the bulls are more powerful than the bears locally. Moreover, the price is close to the upper level, which confirms the strength of the buyers.
As of press time, SOL is trading at $32.99.
AVAX/USD
Avalanche (AVAX) has also followed the rise of other coins, rising 1.88%.
Even though Avalanche (AVAX) hasn’t accumulated enough strength for sustained growth, the price is trading well above the $21.35 resistance level. If buyers cannot bring the rate back to the $18 mark, the decline could continue till mid-July to the $15 area.
AVAX is trading at $16.32 at press time.